Australia…1 hour in… ASX200 down 35

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 35 points (0.5%) to 7350


  • Challenger (-4%); reaffirms FY21 profit guidance range but expects it to be at the bottom end of the range.
  • Coles (-4.4%); expects FY22 capex to be $1.4bn which will focus on improving efficiency, with the remainder split between growth, maintenance, 50 store renewals and 20 new stores.
  • CSL (-1.4%); downgraded to Hold by a broker that looks like a silver donut.
  • Ramelius (-5.8%); has commenced ore mining at its Tampia gold mine.
  • Seven West Media (+9.4%); expects annual earnings to almost double in FY21 (well above guidance), helped by a strong rebound in 4Q advertising revenue.
  • Sonic Healthcare (-0.1%);  to buy Canberra Imaging Group and said it will boost EPS immediately.
  • Whitehaven (-8.5%); downgrade.   Said it should produce less coal than previously forecast this FY, citing disruptions at its Narrabri mine in NSW.
  • Woolworths (-0.2%); shareholders will vote to demerge its hotels and bottle shops business Endeavour Group at 11am.    All commentary says that it will get voted through…….


….and for the Rugby fans;


Leave those 9’s alone.   They are the toughest, smartest and most attractive guys on the field…….


About Scott Phillips

Scott has over 35 years experience in Australian equities, starting as a “chalkie” and trader on the Stock Exchange Trading Floor and spending the last 25 years advising and trading for International Institutions. He has been an Executive Director at JPMorgan and Nomura, a Governor of the Australian Stock Exchange and was recently awarded a Lifetime Achievment award by the Australian Stockbrokers Association.

View more articles by Scott Phillips →